Help me out here.

I hear the economy is frozen. Banks won't lend. No mortgages. Hoarding
their bailout money.

Yet, virtually every commercial break on MSNBC or CNN features at least one
pitch from a major bank or a mortgage company (Ditech comes to mind, which
is a GMAC subsidiary) offering low interests mortgages, loans and "we have
money to lend" announcements.

So, why aren't they lending? Seems to me that this would be an ideal time
for people to re-finance for lower rates, etc.

Economics confuses me.

Eisboch

"Eisboch" wrote in message
...
Help me out here.

I hear the economy is frozen. Banks won't lend. No mortgages. Hoarding
their bailout money.

Yet, virtually every commercial break on MSNBC or CNN features at least
one pitch from a major bank or a mortgage company (Ditech comes to mind,
which is a GMAC subsidiary) offering low interests mortgages, loans and
"we have money to lend" announcements.

So, why aren't they lending? Seems to me that this would be an ideal
time for people to re-finance for lower rates, etc.

Economics confuses me.

Eisboch




Forgot .... also pitches for credit cards.

Eisboch

Eisboch wrote:
Help me out here.

I hear the economy is frozen. Banks won't lend. No mortgages. Hoarding
their bailout money.

Yet, virtually every commercial break on MSNBC or CNN features at least one
pitch from a major bank or a mortgage company (Ditech comes to mind, which
is a GMAC subsidiary) offering low interests mortgages, loans and "we have
money to lend" announcements.

So, why aren't they lending? Seems to me that this would be an ideal time
for people to re-finance for lower rates, etc.

Economics confuses me.

Eisboch




Mostly unregulated handouts...the banks need to pay their Xmas bonuses
first.

"Boater" wrote in message
...
Eisboch wrote:
Help me out here.

I hear the economy is frozen. Banks won't lend. No mortgages. Hoarding
their bailout money.

Yet, virtually every commercial break on MSNBC or CNN features at least
one pitch from a major bank or a mortgage company (Ditech comes to mind,
which is a GMAC subsidiary) offering low interests mortgages, loans and
"we have money to lend" announcements.

So, why aren't they lending? Seems to me that this would be an ideal
time for people to re-finance for lower rates, etc.

Economics confuses me.

Eisboch




Mostly unregulated handouts...the banks need to pay their Xmas bonuses
first.

Huh?

Eisboch wrote:
"Boater" wrote in message
...
Eisboch wrote:
Help me out here.

I hear the economy is frozen. Banks won't lend. No mortgages. Hoarding
their bailout money.

Yet, virtually every commercial break on MSNBC or CNN features at least
one pitch from a major bank or a mortgage company (Ditech comes to mind,
which is a GMAC subsidiary) offering low interests mortgages, loans and
"we have money to lend" announcements.

So, why aren't they lending? Seems to me that this would be an ideal
time for people to re-finance for lower rates, etc.

Economics confuses me.

Eisboch



Mostly unregulated handouts...the banks need to pay their Xmas bonuses
first.

Huh?




The funds the banks and brokerage houses received were mostly without
strings, at least at first, and they're not making loans because the
funds were used to pay bonuses and buy golden parachutes for the execs.

Right?

"Boater" wrote in message
...
Eisboch wrote:
"Boater" wrote in message
...
Eisboch wrote:
Help me out here.

I hear the economy is frozen. Banks won't lend. No mortgages.
Hoarding their bailout money.

Yet, virtually every commercial break on MSNBC or CNN features at least
one pitch from a major bank or a mortgage company (Ditech comes to
mind, which is a GMAC subsidiary) offering low interests mortgages,
loans and "we have money to lend" announcements.

So, why aren't they lending? Seems to me that this would be an ideal
time for people to re-finance for lower rates, etc.

Economics confuses me.

Eisboch



Mostly unregulated handouts...the banks need to pay their Xmas bonuses
first.

Huh?




The funds the banks and brokerage houses received were mostly without
strings, at least at first, and they're not making loans because the funds
were used to pay bonuses and buy golden parachutes for the execs.

Right?

So all the ads I see on TV inviting morgtage and loan applications are just
a front?

Eisboch

Eisboch wrote:
"Boater" wrote in message
...
Eisboch wrote:
"Boater" wrote in message
...
Eisboch wrote:
Help me out here.

I hear the economy is frozen. Banks won't lend. No mortgages.
Hoarding their bailout money.

Yet, virtually every commercial break on MSNBC or CNN features at least
one pitch from a major bank or a mortgage company (Ditech comes to
mind, which is a GMAC subsidiary) offering low interests mortgages,
loans and "we have money to lend" announcements.

So, why aren't they lending? Seems to me that this would be an ideal
time for people to re-finance for lower rates, etc.

Economics confuses me.

Eisboch



Mostly unregulated handouts...the banks need to pay their Xmas bonuses
first.
Huh?



The funds the banks and brokerage houses received were mostly without
strings, at least at first, and they're not making loans because the funds
were used to pay bonuses and buy golden parachutes for the execs.

Right?

So all the ads I see on TV inviting morgtage and loan applications are just
a front?

Eisboch




Just the TV versions of the Nigerian email scams... :)

On Fri, 5 Dec 2008 12:01:41 -0500, "Eisboch"
wrote:



So all the ads I see on TV inviting morgtage and loan applications are just
a front?

I think you need high FICO scores to acquire those loans.
This country has been running on debt for years.
So the mechanism is broken.
All the squawking about money not being available is from those
already too far in debt.
The squeaky wheel is not getting the oil.

--Vic

Eisboch wrote:
Help me out here.

I hear the economy is frozen. Banks won't lend. No mortgages. Hoarding
their bailout money.

Yet, virtually every commercial break on MSNBC or CNN features at least one
pitch from a major bank or a mortgage company (Ditech comes to mind, which
is a GMAC subsidiary) offering low interests mortgages, loans and "we have
money to lend" announcements.

So, why aren't they lending? Seems to me that this would be an ideal time
for people to re-finance for lower rates, etc.

Economics confuses me.

Eisboch




Loans are available for anyone with good credit. They are being
selective on who they make loans to. The problem we had with Fanny Mae
was making loans for more than the home was worth, to people with bad
credit, and who were not putting any money down. It was a govt. plan to
allow everyone to own a home. The problem is, without a down payment,
the homeowner had no more invested in the home than when he was renting
an apartment.

Reginald P. Smithers III, Esq. wrote:
Eisboch wrote:
Help me out here.

I hear the economy is frozen. Banks won't lend. No mortgages.
Hoarding their bailout money.

Yet, virtually every commercial break on MSNBC or CNN features at
least one pitch from a major bank or a mortgage company (Ditech comes
to mind, which is a GMAC subsidiary) offering low interests
mortgages, loans and "we have money to lend" announcements.

So, why aren't they lending? Seems to me that this would be an ideal
time for people to re-finance for lower rates, etc.

Economics confuses me.

Eisboch




Loans are available for anyone with good credit. They are being
selective on who they make loans to. The problem we had with Fanny Mae
was making loans for more than the home was worth, to people with bad
credit, and who were not putting any money down. It was a govt. plan to
allow everyone to own a home. The problem is, without a down payment,
the homeowner had no more invested in the home than when he was renting
an apartment.


The "problem" with the home loans is just a teeny bitty bit deeper than
that, and had mostly to do with the packaging of loans into investment
instruments for resale to others.